Barber Shop Business Plan Example

BUSI NESS PL AN
[YEAR]
John & Sons

Because world champs need to look good.
John Doe
10200 Bolsa Ave, Westminster, CA, 92683
(650) 359-3153
info@upmetrics.co
https://upmetrics.co
Table of Contents
Executive Summary 4
Business Overview 5
Our Services 5
Vision 5
Mission 5
Customer Focus 6
Management Team 6
JOHN DOE 6
Success Factors 6
Financial Highlights 6
Business Overview 8
About J&S 9
Our Services 9
Hair services 9
Our Products 9
Brands 10
Salon Design 10
Industry Analysis 11
Industry Trends 12
Market-level trends 12
Firm-level trends 12
Customer-level trends 12
Customer Analysis 13
Demographic Profile of Target Market 14
Customer Segmentation 14
Soccer/stay-at-home moms 15
Professionals 15
Students 15
Chart 15
Competitive Analysis 16
Direct & Indirect Competitors 17
Joe’s Beauty Salon 17
LUX CUTS 17
Freddie’s Fast Hair Salon 17
1 / 33
Competitive Pricing 17
Payment Options 18
Competitive Advantage 18
Competitive Advantage 18
Marketing Plan 19
The J&S Brand 20
Promotions Strategy 20
Local Publications 20
Major Publications 20
Community Events/Organizations 21
Commute Advertising 21
Customer Loyalty Programs 21
Direct Mail 21
Ongoing Customer Communications 22
Pre-Opening Events 22
Pricing Strategy 22
Operations Plan 23
Functional Roles 24
Service Functions 24
Administrative Functions 24
Miscellaneous 24
Milestones 24
Management Team 26
Management Team Members 27
JOHN DOE 27
JANE DOE 27
Hiring Plan 27
Financial Plan 28
Revenue and Cost Drivers 29
Capital Requirements and Use of Funds 29
Key Assumptions & Forecasts 29
Income Statement (5 Year projections) 30
Balance Sheet (5 Year projections) 31
Cash Flow Statement (5 Year projections) 31
2 / 33
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[YEAR ] Bus ines s Plan | J ohn & Sons 3 / 33

1.
Executive Summary
Business Overview
Our Services
Vision
Mission
Customer Focus
Management Team
Success Factors
Financial Highlights

Business Overview
John & Sons (J&S) Barbing Salon is a standard and licensed barbing salon
that will be located in a richly populated neighborhood in West Palm Beach,
Florida – United States of America. We chose to open our barbing salon in this
city because of the need for the services of a standard barbing salon in the
To unlock help try Upmetrics! 
neighborhood.
Start Writing here...
Our Services
John & Sons will provide relationship-oriented haircutting services for all ages
and both genders. Haircutters will focus on building long-term rapport with their
clients and strive to deliver personalized beauty results for each individual.
These are the services that J&S Barbing Salon will be To unlock help try Upmetrics! 
offering;
Vision
Our vision is to become the number one

choice when it comes to a barbing saloon in
the whole of West Palm Beach, Florida –
United States of America, and also to be
among the top 20 barbers shop in the United
Mission
A mission statement describes the fundamental purpose of your business:

what you do, why you do it, and for whom you do it. It identifies your
products, services, and customers. A good mission statement can be used to
define your business both internally and externally to employees, partners,
shareholders, customers, and lenders. To unlock help try Upmetrics! 

Customer Focus
J&S will primarily serve the residents

within a 5-mile radius of our location. The
demographics of these customers are as
follows:
Management Team
JOHN DOE
Owner - john.doe@example.com
J&S is led by John Doe who has been in the hair care business for 20 years. While
Mr. doe has never run a hair salon himself, he has been cutting hair since age 15
and spent most of his adult life working as a stylist at several major salons. As
such Mr. Doe has an in-depth knowledge of the salon business including the
operations side (e.g., running day-to-day operations) and the business
management side (e.g., staffing, marketing, etc.).
Success Factors
John Doe is uniquely qualified to succeed due to the following reasons:
The Company will fill a specific market niche in the growing community
we are entering. In addition, we have surveyed the local population and
received extremely positive feedback saying thatTothey
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explicitly
Financial Highlights
J&S is currently seeking $260,000 to launch. Specifically, these funds will be used as follows:
Store design/build: $140,000

Working capital: $120,000 to pay for Marketing, salaries, and lease costs until J&S reaches
break-even
Topline projections over the next five years are as follows:

Financial Summary Year1 Year2 Year3 Year4 Year5
Revenue $315,115 $466,067 $524,563 $590,400 $664,500
Total Expenses $345,594 $385,172 $419,434 $475,894 $507,480
EBITDA ($30,479) $80,895 $105,129 $114,506 $157,020
Depreciation $20,840 $20,840 $20,840 $20,840 $20,840
EBIT ($51,319) $60,055 $84,289 $93,666 $136,180
Interest $16,822 $14,719 $12,617 $10,514 $8,411
PreTax Income ($68,141) $45,336 $71,673 $83,153 $127,769
Income Tax Expense $0 $0 $17,104 $29,103 $44,719
Net Income ($68,141) $45,336 $54,569 $54,049 $83,050
Net Profit Margin - 10% 10% 9% 12%
Average customers/day 26 29 32 36 41

2.
Business Overview
About J&S
Our Services
Our Products
Salon Design

About J&S
Our Services
Below are J&S’s initial service offerings and in-store products sold.
Each appointment will include an initial hair assessment and suggestion phase where the stylist will
discuss the customer’s hair and preferred hairstyle. There will then be a pre-cut hair wash with our in-
store products, a haircut or coloring as appropriate, and finally a post-cut styling to our customer’s
preferences.
Hairstylists will be asked to perform the following services for both men and women:
Hair services
Hair washes Hair cuts Special event hair styling
Hair coloring Hair extensions
Our Products
Our Products
J&S will feature premium hair products in-store from these well-established brands. It will continue to
update its offering in order to provide the newest hair products to its customers.
Some of its featured brands will include:
Brands
Gioldwell Schwarzkopf Paul Mitchell Systems
Salon Design

3.
Industry Analysis
Industry Trends

John & Sons compete against small, individually owned hair salons and
barbershops, and against major regional or national chains. There are over
450,000 registered salons in the United States, a figure that reflects the hair
cutting needs of 300 million people.
The hair salon industry is a fragmented one, as the 50 largest companies only
Industry Trends
The industry in which J&S will compete is experiencing a number of different trends.
Slow but steady growth. This market is expected to grow consistently at

around 2% annually.
Success drivers. Customer satisfaction is what ultimately makes one salon

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triumph while another fails. The experience a salon’s client hashelp try Upmetrics! 
determined
whether or not they return and whether or not they refer others to the same
Market-level trends
Start writing here...
Price sensitivity at the bottom. The low-cost segment of the market, which
primarily serves men and children, often competes on the basis of price. This
reflects the different preferences of these particular consumers, who are often
more interested in an affordable haircut than in seeing the same haircutter on a
regular basis.
Firm-level trends
Intense customer loyalty. Many salons develop repeat customers who

become a regular client base and represent a significant portion of their
revenues. Salons whose employees are able to develop strong relationships
with customers can expect to see more long-term success.
Changing gender patterns. Traditionally, women bring in the lion’s share of
Customer-level trends

4.
Customer Analysis
Demographic Profile of Target Market
Customer Segmentation

Demographic Profile of Target Market
J&S will serve the residents of West Palm Beach, Florida and the immediately surrounding areas as
well as those who work in West Palm Beach, Florida.
The area we serve is populated mostly by the middle class; as a result, they have the means to pay for
higher quality service and are looking for a hair and beauty services somewhere between the deep
discounters and the top-end luxury brands.
The precise demographics of the town in which our retail location resides is as follows:
Wilmette Winnetka
Total Population 26,097 10,725
Square Miles 6.89 3.96
Population Density 3,789.20 2,710.80
Population Male 48.04% 48.84%
Population Female 51.96% 51.16%
Target Population by Age Group
Age 18-24 3.68% 3.52%
Age 25-34 5.22% 4.50%
Age 35-44 13.80% 13.91%
Age 45-54 18.09% 18.22%
Target Population by Income
Income $50,000 to $74,999 11.16% 6.00%
Income $75,000 to $99,999 10.91% 4.41%
Income $100,000 to $124,999 9.07% 6.40%
Income $125,000 to $149,999 9.95% 8.02%
Income $150,000 to $199,999 12.20% 11.11%
Income $200,000 and Over 32.48% 54.99%
Customer Segmentation
The Company will primarily target the following three customer segments:

The town has a large population of stay-at-home moms who are active in the
school and community. These moms seek beauty services on a regular basis.
Winning the loyalty of a mother often includes winning the business of her
children and husband as well. These women are well connected to each other
and as such is a prime source of referral business. J&S expects to regularly
Soccer/stay-at-home moms
J&S is located along a well-traveled commute route. By offering a convenient

location and exceptional service to the customer, J&S will draw in working men
and women who need to look professional for work.
Professionals
There are multiple high schools and middle schools located in the surrounding
area. These students still live on their parents’ income and can therefore afford
to pay for higher-quality services than discounters provide. In particular, J&S
can expect to generate significant seasonal businesses based on the beauty
needs of the local youth culture.
Students
Students: 26.0 %
Soccer Moms: 40.0 %
Professionals: 34.0 %

5.
Competitive
Analysis
Direct & Indirect Competitors
Competitive Pricing
Competitive Advantage

Direct & Indirect Competitors
The following retailers are located within a 5-mile radius of J&S, thus providing either direct or indirect
competition for customers:
Joe’s Beauty Salon is the town’s most popular beauty salon and has been in
business for 32 years. Joe’s offers a wide array of services that you would
expect from a beauty salon.
To unlock
Besides offering hair cuts, Joe’s also offers nail services such as try Upmetrics! 
helpmanicures
and pedicures. In fact, over 60% of Joe’s revenue comes from services
Joe’s Beauty Salon

LUX CUTS has been in business for 5 years. LUX CUTS offers an extremely
high-end hair service, with introductory prices of $120 per hair cut.
However, LUX CUTS will primarily be targeting a different customer segment

from J&S, focusing on the households with an income Toin unlock
the tophelp
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of the 
city.
LUX CUTS
Freddie’s Fast Hair Salon has located four stores down the road from J&S.
Freddy’s has been in business for the past 3 years and enjoys great success,
primarily due to its prime location.
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Freddy’s business offers inexpensive hair cuts and focuses on help try Upmetrics!
volume over 
quality. It also has a large customer base comprised of children between the
Freddie’s Fast Hair Salon

Competitive Pricing
John and Sons Barbing Salon will work towards ensuring that all our services
are offered at highly competitive prices compare to what is obtainable in The
United States of America.
To unlock
We know the importance of gaining entrance into the market byhelp our 
try Upmetrics!
lowering
pricing so as to attract all and sundry that is why we have consulted with

At John & Sons Barbing Salon, our payment policy is all-inclusive because we
are quite aware that different people prefer different payment options as it suits
them. Here are the payment options that will be available in all our outlets;
Payment by cash To unlock help try Upmetrics! 
Payment Options
Location Affordable price
 J&S’s location is near the center of

town, giving us access to
 The complete array of hair services
offered by J&S nearly equals the
commuters going to and leaving the most premium positioned
train station, local office workers, competitor, LUX CUTS. However,
and passersby shopping in the city. J&S will offer these services at a
We also offer adequate parking much more affordable price.
making it easy for customers to
patronize us.
Management Relationships
 Our management team has years of

business and marketing experience
 Having lived in the community for
25 years, John Doe knows all of the
that allows us to market to and local leaders, newspapers and other
serve customers in a much more influences. As such, it will be
sophisticated manner than our relatively easy for J&S to build
competitors. brand awareness and an initial
customer base.

6.
Marketing Plan
The J&S Brand
Promotions Strategy
Pricing Strategy

J&S seeks to position itself as a respectable, upper-middle-market competitor
in the hair salon market. Customers can expect to receive professional hair
care from familiar haircutters for a price somewhere between discount chains
and luxury establishments.
The J&S Brand
The J&S brand will focus on the Company’s unique value proposition:
Convenient location
Familiar, regular hairstylist
Significant personal attention
Promotions Strategy
J&S expects its target market to be individuals working and/or living within a 5-mile radius of its
location. [The Company’s] promotions strategy to reach these individuals includes:
John & Sons will announce its opening several weeks in advance through
publicity pieces in multiple local newspapers and publications. Regular
advertisements will run to maintain exposure to relevant markets. Community
newspapers, school publications, youth sports programs, and similar channels
will be a major promotion effort.
Local Publications
We will make careful use of advertising in selected larger publications. Florida

Times has a circulation of XYZ and we can expect to reach a wider geographic
region of customers on a limited basis. Advertisements with major publications
will be used selectively, based on cost-effectiveness. These ads will include
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discount coupons so that responses to the ads can beTo tracked.
Major Publications

J&S will promote itself by distributing marketing materials and participating in
local community events, such as school fairs, local festivals, homeowner
associations, or sporting events. Since mothers are often heavily involved in
such things, we will not only reach the lucrative audience of adult women but
also potentially their families by extension.
Community Events/Organizations
We will drive attention toward J&S by hiring workers to hold signs alongside
Washington road. Advertising on heavily traveled commute routes is an
opportunity to alert large numbers of working individuals with disposable
income of our opening.
Commute Advertising
J&S will create a winning customer loyalty program to keep its best clients
coming back again and again. When not actively providing services to
customers in the store, our professionals and other employees will make
periodic, regular phone calls to customers. These phone calls will (a) ensure
that customers are satisfied with their hair treatment, and (b) remind customers
Customer Loyalty Programs

J&S will blanket neighborhoods surrounding its locations with direct mail
pieces. These pieces will provide general information on J&S, offer discounts,
and/or provide other inducements for people to visit the salon.
Direct Mail

J&S will maintain a website and publish a monthly email newsletter to tell
customers about new events, products, and more.
Ongoing Customer Communications

Before opening the store, J&S will organize pre-opening events designed for
prospective customers, local merchants, and press contacts. These events will
create buzz and awareness for J&S in the area.
Pre-Opening Events
John & Sons Barbing Salon will work towards ensuring that all our services are
offered at highly competitive prices compare to what is obtainable in The
United States of America.
To unlock
We know the importance of gaining entrance into the market byhelp our 
try Upmetrics!
lowering
pricing so as to attract all and sundry that is why we have consulted with
Pricing Strategy

7.
Operations Plan
Functional Roles
Milestones

Functional Roles
J&S will carry out its day-to-day operations primarily on an appointment basis.
Walk-in clients will be served by the earliest available hairstylist, but priority will
be given to clients who called ahead. In the meantime, waiting for customers
can divert themselves in the lounge, which features television and current
popular magazines. The Company intends to employ [X] hairstylists and [A]
Haircutting
Hair coloring
Hair washing
Product sales To unlock help try Upmetrics! 
Service Functions
General & administrative functions including legal, marketing,

bookkeeping, etc.
Sourcing and storing products
Hiring and training staff To unlock help try Upmetrics! 
Appointment making
Administrative Functions
Maintenance personnel
Miscellaneous
Milestones
John & Sons' long term goal is to become the dominant provider of hair care and related services and

products in the Florida area. We seek the standard by which other providers are judged.
The following are a series of steps that lead to our vision of long-term success. J&S expects to
achieve the following milestones in the following [xyz] months:
Date Milestone
[Date 1] Finalize lease agreement
[Date 2] Design and build out [Company Name] storefront
[Date 3] Hire and train initial staff
[Date 4] Kickoff of a promotional campaign
[Date 5] Launch [Company Name]?s store
[Date 6] Reach break-even

8.
Management Team
Management Team Members
Hiring Plan

Management Team Members
JOHN DOE
Owner - john.doe@example.com
J&S is led by John Doe who has been in the hair salon business for 20 years.
While Mr. Doe has never run a hair salon himself, he has extensive experience
cutting, treating, and styling hair at major salons for the past 20 years. He began
his career in [19xx] when he received a certification from Artcon Cutting School
and began work at [major chain], where he worked for X years.
Mr. Doe graduated from the University of ABC where he majored in

Communications.
JANE DOE
Managing Director- jane.doe@example.com
Ms. Jane Doe will serve as the customer service manager. He/she has extensive
experience in the hospitality industry.
Hiring Plan
John Doe will serve as the store manager. In order to launch our salon, we
need to hire the following personnel:
Hair Stylists (3 positions)

As dictated by demand and operational maturity, Mr. Doe will consider hiring

9.
Financial Plan
Revenue and Cost Drivers
Capital Requirements and Use of Funds
Key Assumptions & Forecasts
Income Statement (5 Year projections)
Balance Sheet (5 Year projections)
Cash Flow Statement (5 Year projections)

Revenue and Cost Drivers
J&S’s revenues will come primarily from the services rendered and secondarily
from the sale of hair care products.
As with most services, labor expenses are the key cost drivers for hair salons.
Hairstylists are paid through a combination of salaries To
andunlock help try Upmetrics! 
commission,
rewarding them for performance and making hair stylists an active part in
Capital Requirements and Use of Funds
John & Sons are seeking total funding of $260,000 of debt capital to launch its
store. The capital will be used for funding capital expenditures and location
build-out, hiring initial employees, marketing expenses, and working capital.
Specifically, these funds will be used as follows: To unlock help try Upmetrics! 
Key Assumptions & Forecasts

The following table reflects the key revenue and cost assumptions made in the financial model.
Number of customers per day Per location
Year 1 26
Year 2 29
Year 3 32
Year 4 36
Year 5 41
Haircut $35
Hair Style $60
Color $40
Product Sales $20
Annual Rent $90,000

Income Statement (5 Year projections)
Year 1 Year2 Year3 Year4 Year5
Revenues
Product/Service-A $151,200 $333,396 $367,569 $405,245 $446,783
Product/Service B $100,800 $222,264 $245,046 $270,163 $297,855
Total Revenues $252,000 $555,660 $612,615 $675,408 $744,638
Expenses & Costs
Cost of goods sold $57,960 $122,245 $122,523 $128,328 $134,035
Lease $60,000 $61,500 $63,038 $64,613 $66,229
Marketing $20,000 $25,000 $25,000 $25,000 $25,000
Salaries $133,890 $204,030 $224,943 $236,190 $248,000
Other Expenses $3,500 $4,000 $4,500 $5,000 $5,500
Total Expenses &

$271,850 $412,775 $435,504 $454,131 $473,263
Costs
EBITDA ($19,850) $142,885 $177,112 $221,277 $271,374
Depreciation $36,960 $36,960 $36,960 $36,960 $36,960
EBIT ($56,810) $105,925 $140,152 $184,317 $234,414
Interest $23,621 $20,668 $17,716 $14,763 $11,810
PRETAX INCOME ($80,431) $85,257 $122,436 $169,554 $222,604
Net Operating Loss ($80,431) ($80,431) $0 $0 $0
Income Tax Expense $0 $1,689 $42,853 $59,344 $77,911
NET INCOME ($80,431) $83,568 $79,583 $110,210 $144,693
Net Profit Margin (%) - 15.00% 13.00% 16.30% 19.40%

Balance Sheet (5 Year projections)
Year1 Year2 Year3 Year4 Year5
ASSETS
Cash $16,710 $90,188 $158,957 $258,570 $392,389
Accounts receivable $0 $0 $0 $0 $0
Inventory $21,000 $23,153 $25,526 $28,142 $31,027
Total Current Assets $37,710 $113,340 $184,482 $286,712 $423,416
Fixed assets $246,450 $246,450 $246,450 $246,450 $246,450
Depreciation $36,960 $73,920 $110,880 $147,840 $184,800
Net fixed assets $209,490 $172,530 $135,570 $98,610 $61,650
TOTAL ASSETS $247,200 $285,870 $320,052 $385,322 $485,066
LIABILITIES & EQUITY
Debt $317,971 $272,546 $227,122 $181,698 $136,273
Accounts payable $9,660 $10,187 $10,210 $10,694 $11,170
Total Liabilities $327,631 $282,733 $237,332 $192,391 $147,443
Share Capital $0 $0 $0 $0 $0
Retained earnings ($80,431) $3,137 $82,720 $192,930 $337,623
Total Equity ($80,431) $3,137 $82,720 $192,930 $337,623
TOTAL LIABILITIES &

$247,200 $285,870 $320,052 $385,322 $485,066
EQUITY
Cash Flow Statement (5 Year projections)

Year1 Year2 Year3 Year4 Year5
CASH FLOW FROM OPERATIONS
Net Income (Loss) ($80,431) $83,568 $79,583 $110,210 $144,693
Change in working capital ($11,340) ($1,625) ($2,350) ($2,133) ($2,409)
Depreciation $36,960 $36,960 $36,960 $36,960 $36,960
Net Cash Flow from Operations ($54,811) $118,902 $114,193 $145,037 $179,244
CASH FLOW FROM INVESTMENTS
Investment ($246,450) $0 $0 $0 $0
Net Cash Flow from Investments ($246,450) $0 $0 $0 $0
CASH FLOW FROM FINANCING
Cash from equity $0 $0 $0 $0 $0
Cash from debt $317,971 ($45,424) ($45,424) ($45,424) ($45,424)
Net Cash Flow from Financing $317,971 ($45,424) ($45,424) ($45,424) ($45,424)
SUMMARY
Net Cash Flow $16,710 $73,478 $68,769 $99,613 $133,819
Cash at Beginning of Period $0 $16,710 $90,188 $158,957 $258,570
Cash at End of Period $16,710 $90,188 $158,957 $258,570 $392,389

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BUSI NESS PL AN

John & Sons

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Our vision is to become the number one

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A mission statement describes the fundamental purpose of your business:

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[YEAR ] Bus ines s Plan | J ohn & Sons 5 / 33

J&S will primarily serve the residents

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John Doe is uniquely qualified to succeed due to the following reasons:

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Store design/build: $140,000

Topline projections over the next five years are as follows:

[YEAR ] Bus ines s Plan | J ohn & Sons 6 / 33

Revenue $315,115 $466,067 $524,563 $590,400 $664,500

Total Expenses $345,594 $385,172 $419,434 $475,894 $507,480

EBITDA ($30,479) $80,895 $105,129 $114,506 $157,020

Depreciation $20,840 $20,840 $20,840 $20,840 $20,840

EBIT ($51,319) $60,055 $84,289 $93,666 $136,180

Interest $16,822 $14,719 $12,617 $10,514 $8,411

PreTax Income ($68,141) $45,336 $71,673 $83,153 $127,769

Income Tax Expense $0 $0 $17,104 $29,103 $44,719

Net Income ($68,141) $45,336 $54,569 $54,049 $83,050

Net Profit Margin - 10% 10% 9% 12%

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Hair washes Hair cuts Special event hair styling

Hair coloring Hair extensions

Some of its featured brands will include:

Gioldwell Schwarzkopf Paul Mitchell Systems

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[YEAR ] Bus ines s Plan | J ohn & Sons 10 / 33

[YEAR ] Bus ines s Plan | J ohn & Sons 11 / 33

Slow but steady growth. This market is expected to grow consistently at

Success drivers. Customer satisfaction is what ultimately makes one salon

Intense customer loyalty. Many salons develop repeat customers who

[YEAR ] Bus ines s Plan | J ohn & Sons 12 / 33

[YEAR ] Bus ines s Plan | J ohn & Sons 13 / 33

Total Population 26,097 10,725

Square Miles 6.89 3.96

Population Density 3,789.20 2,710.80

Population Male 48.04% 48.84%

Population Female 51.96% 51.16%

Target Population by Age Group

Age 18-24 3.68% 3.52%

Age 25-34 5.22% 4.50%

Age 35-44 13.80% 13.91%

Age 45-54 18.09% 18.22%

Target Population by Income

Income $50,000 to $74,999 11.16% 6.00%

Income $75,000 to $99,999 10.91% 4.41%

Income $100,000 to $124,999 9.07% 6.40%